Media Release Collaborative platform launched to create business opportunities in the region, linking Singapore to Asia Pacific Millet World Trading Post is a Co-working Space+ concept that goes beyond physical co-working spaces and emphasises connectivity and collaboration The Millet World Trading Post platform connects supply and demand dots by identifying opportunities and matching them with members in countries such as Singapore, Malaysia, the Philippines, China and India Trading posts have physical and virtual assets that cater to an eco-system of businesses, entrepreneurs, free agents and listed companies Two MOUs to be signed with Temasek Polytechnic and Australian developer Sanc Group of Companies SINGAPORE, 30 August 2018 A new Co-Working Space+, Millet World Trading Post (MWTP), made up of physical and virtual networks, has been rolled out to drive small medium enterprises (SMEs), micro businesses, and serve operators in the arts, culture and creative industry in Asia. The Trading Posts have an online and an offline feature. The online platform is a virtual network, accessible through a mobile app, for members dotted across Asia. The Asia Pacificwide online platform originating from Singapore connects the supply and demand dots by identifying opportunities and matching them with members across Southeast Asia, North and South Asia as well as Oceania. The physical Trading Posts also provide working spaces. The MWTP concept is inspired by the historical trading posts of the past that led to port cities. What port cities brought about was a confluence of entrepreneurs and creative ideas that generated business exchange, and MWTP plans to re-create that virtually arguably the first outfit of its kind for SMEs, micro businesses, and operators in the arts, culture and creative industry in Asia Pacific. For its launch, Singapore will start with seven MWTP nodes or venues: Temasek Launchpad@ Temasek Polytechnic, 20 Temenggong Road, The Pavilion at Far East Square, 10 Square@Orchard Central, Northpoint City I and II, Platform E by SIM. The spaces currently range from 31 square feet to 5,000 square feet. 1
MWTP nodes will soon roll out in key cities in the region as well, such as Manila, Kuala Lumpur, Melaka, Xiamen and Chengdu as well as New Delhi, and then in countries such as Australia, Laos and Vietnam in early 2019. Beyond co-working spaces, MWTP s greatest value-add is to be a business exchange platform for its members, says Jimmy Soon, Executive Director of Millet Holdings. We are confident that it is a scalable business model that will provide deal flows and create a virtuous cycle among small business owners, entrepreneurs and individuals. We hope to create 10,000 MWTP nodes in the region by 2020, he added. Two MOUs will be signed this afternoon one with The Temasek Polytechnic and the other with SANC Group of Companies, a developer with projects in Malaysia and Australia. Says Mr Soon adds: Temasek Polytechnic will leverage MWTP to provide regional access to its current students, alumni members, and startups. And through SANC Group, we will have immediate access to the Australian market. Dr Sharon Lim, chairman designate of MWTP further elaborates: As business networking is the main pillar of MWTP s value proposition, MWTP will facilitate a pipeline of activities such as workshops, talks and conferences on the latest innovations and trends, serving as a business exchange centre and a modern Trading Post. This pipeline of interactive activities will support Singapore SMEs to grow in a pack and create collaborative paths into new markets. With the Trading Post concept, we secured the interest of creative businesses such as IQ kidz and small businesses in the region such as Malaysian chocolate maker 18C Pte Ltd, and Garam Lada, an Indonesian bakery which caters to special dietary needs. Today, these small businesses from the region see an advantage in leveraging on the MWTP network here to create a footprint in Singapore. Likewise, local firms are excited about the prospect of using the MWTP platform to cross venture into regional markets. This kind of massive connectivity of Trading Posts and eco-system of regional cross-ventures excites us, says Dr Lim. INVESTORS MWTP has found like-minded investors who are willing to put their commercial spaces into the pool, to turn them into Trading Posts. The earliest investor in MWTP s business is Bobby Kok, managing director of CJ Stamford Management Pte Ltd. A private real estate investor with 20 years of experience in property investment and asset management, Mr Kok will be driving the launch of MWTP in Manila, Philippines. Says Mr Kok: I was keen to invest in MWTP because I could see its potential to impact the lives of entrepreneurs and small business owners, and MWTP has the ability to scale up to serve the region as it gets more like-minded investors who want to make an impact with their investments. 2
MWTP will work on a membership subscription basis for access to a variety of spaces, ancillary facilities, events and activities. Adds Mr Soon: We now have a comprehensive network to further accelerate the creative industry into the region. MWTP is a subsidiary of Millet Holdings. Millet Holdings whose parent company is The RICE Company Limited (TRCL), is part of TRCL s aim to build an end to end roadmap to provide education, content and employment within Singapore s arts, culture and creative industries, as well as a blueprint to give talents access into regional markets. Members of the media are invited to a media preview of Millet World Trading Post, on 30 August 2018 at 10.30am to 12 noon, at 20 Temenggong road, Singapore 098771. Issued for and on behalf of The RICE Company Ltd Waterbrooks Consultants Pte Ltd Sharon Cheah Email: sharon@waterbrooks.com.sg Mobile: 9658 2942 For Media Enquiries: The RICE Company Limited Sum Wai Ying Email: waiying_sum@therice.sg Mobile: 9222 3548 Cont d on the next page 3
Millet Holdings Millet Holdings is an accelerator that leverages impact investing to increase opportunities for creatives and entrepreneurs in the region. Millet Holdings was incorporated on April 2016 as a wholly owned subsidiary of The RICE Company Limited (TRCL) as part of TRCL s end-to-end roadmap to provide access, opportunities and employment in the arts and creative industries for all. Millet Holdings has three wholly-owned subsidiaries: Millet Capital Pte Ltd, Millet World Pte Ltd, Millet World Trading Post Pte Ltd and one joint venture company, Metaverse Systems Pte Ltd. Each of the four corporate entities is positioned to capitalise on market opportunities in alignment with Millet s strategic vision: Accelerating the Creatives. For more information, visit www.milletholdings.sg. The RICE Company Limited The RICE Company Limited (TRCL) is a not-for-profit organisation that harnesses the potential of the arts to empower lives. TRCL s core areas of expertise lies in providing arts training for under-served children and youth; enlivening places and spaces through placemaking and content creation; and connecting communities through arts and culture. TRCL currently manages two social funds (The Business Times Budding Artists Fund and Sing50 Fund), five creative spaces (The Little Arts Academy City, North Campus I & II, 10 Square at Orchard Central, The Pavilion at Far East Square, and Temenggong 18/20) and two subsidiaries (Global Cultural Alliance and Millet Holdings). For more information, visit www.therice.sg. 4
Annex Spokesperson for Millet Holdings: Mr Jimmy Soon, Executive Director of Millet Holdings Pte Ltd Jimmy Soon is the Executive Director of Millet Holdings Pte Ltd. Jimmy serves as a business consultant to businesses or startups with a focus on the market space in environment technology. He assists manufacturers and principals to develop product and operation strategies for specific market entry into Asia s emerging economies. Other spokespersons: Dr Sharon Lim, Chairman designate, Millet World Trading Post Ltd Dr Sharon Lim is an active entrepreneur, with experience in business start-ups overseas. She is the founding partner of Pinoy Properties Investment Corporation (PPIC) and built this Philippine company to specialize in Property Portfolio Management and establishing of Service apartment brands. Her strong appreciation of inter-cultural differences and ability to operate across countries has been her strength that she brings to each of the business she undertakes. She has a Master s degree from Nanyang Technological University, as well as a Doctorate Degree in Computer Science from Royal Melbourne Institute of Technology. She was awarded the Nanyang Outstanding Young Alumni Award for her contributions to the University and Alumni Mr Bobby Kok, Managing Director, CJ Stamford Management Pte Ltd Bobby is a private real estate investor and consultant with more than 20 years of experience in property investment and management. Having led and built sales teams for global real estate firms Savills and Knight Frank as head of business, Bobby has completed real estate transactions in Singapore, Australia, The Philippines and United Kingdom in excess of $1 billion. In 2017, Bobby founded CJ Stamford Pte Ltd, a property management company for high-end residences and premier office spaces with an AUM (assets under management) of S$100 million. 5
About Millet World Trading Post MWTP is an integrated digital and physical platform connecting businesses and communities. As a nexus for the confluence of innovation and business, MWTP will harness the latest innovation trends and build a pipeline of activities providing opportunities for Singapore SMEs to grow in a pack, collaborate and make inroads into new markets. MWTP will also facilitate a pipeline of activities such as workshops, talks and conferences on the latest innovation trends, and as such serving as a centre for business exchange. Currently in Singapore, MWTP will start off with 7 key nodes (approx. 10,000 sq ft) for start-ups and businesses to use. Name of Node The Pavilion@ Far East Square 10 Square @ Orchard Central, Somerset Northpoint City, North wing Northpoint City, South wing 20 Temenggong Road Platform E by SIM Temasek Launchpad@Temasek Polytechnic Description of Node Located in the heart of the Central Business District, amenities include an open exhibition space on the first level and access to a cluster of creative businesses using the co-working spaces on the second level. (5000 sqft) Located on the 10th floor of Orchard Central in close proximity to an arts training centre for youths, amenities include an auditorium and a casual eatery café. (380 sqft) These two nodes are located conveniently in Northpoint City at Yishun, which gives easy access to and within the northern parts of Singapore. (30 & 46 sqft) Housed within a colonial bungalow house, this node is surrounded by lush greenery a cultural sanctuary with the convenience of close proximity to the bustling Harbourfront precinct. (300 sqft) This is a node developed in partnership with SIM s Platform E to leverage and further extend the school s entrepreneurship ecosystem to arts, culture and creative businesses/ communities. (60 sqft) This is a node developed in partnership with Temasek Launchpad @ Temasek Polytechnic to leverage and further extend the school s entrepreneurship ecosystem to arts, culture and creative businesses/ communities. (4500 sqft) MWTP will be looking to launch nodes in the following cities: - Manila, The Philippines - Kuala Lumpur, Malaysia - Melaka, Malaysia - Xiamen, China - Chengdu, China - New Delhi, India As well as in the following countries: Australia, Laos, Vietnam. 6